The Beauty Health Company (NASDAQ:SKIN) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of The Beauty Health Company (NASDAQ:SKIN) by 12.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 232,030 shares of the company’s stock after selling 31,614 shares during the period. Bank of New York Mellon Corp owned approximately 0.19% of Beauty Health worth $311,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. ProShare Advisors LLC lifted its stake in Beauty Health by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 20,959 shares of the company’s stock valued at $33,000 after purchasing an additional 6,896 shares during the last quarter. Barclays PLC lifted its stake in Beauty Health by 11.1% during the fourth quarter. Barclays PLC now owns 117,920 shares of the company’s stock valued at $187,000 after purchasing an additional 11,817 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Beauty Health during the fourth quarter valued at approximately $25,000. Price T Rowe Associates Inc. MD lifted its stake in Beauty Health by 19.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 114,147 shares of the company’s stock valued at $182,000 after purchasing an additional 18,400 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in Beauty Health by 32.6% during the fourth quarter. Bank of Montreal Can now owns 113,096 shares of the company’s stock valued at $180,000 after purchasing an additional 27,791 shares during the last quarter. 93.26% of the stock is owned by institutional investors and hedge funds.

Beauty Health Stock Up 4.6%

Shares of NASDAQ:SKIN opened at $1.60 on Tuesday. The company has a debt-to-equity ratio of 12.01, a quick ratio of 6.43 and a current ratio of 7.47. The company has a market cap of $201.58 million, a PE ratio of -3.90 and a beta of 1.20. The Beauty Health Company has a 52 week low of $0.78 and a 52 week high of $2.38. The firm has a 50 day simple moving average of $1.77 and a 200 day simple moving average of $1.52.

Beauty Health (NASDAQ:SKIN) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.05. The business had revenue of $69.60 million during the quarter, compared to the consensus estimate of $63.88 million. Beauty Health had a negative net margin of 11.94% and a negative return on equity of 67.91%. As a group, research analysts expect that The Beauty Health Company will post -0.25 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on SKIN shares. Stifel Nicolaus increased their target price on shares of Beauty Health from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Friday. Canaccord Genuity Group reduced their price target on shares of Beauty Health from $1.50 to $1.25 and set a “hold” rating for the company in a research report on Monday, May 5th.

Beauty Health Profile

The Beauty Health Company designs, develops, manufactures, markets, and sells aesthetic technologies and products worldwide. The company's flagship product includes HydraFacial that enhance the skin to cleanse, extract, and hydrate the skin with proprietary solutions and serums. Its products also comprise Syndeo, a Delivery System designs to connects providers to the consumer's preferences to create a more personalized experience; consumables, such as single-use tips, solutions, and serums used to provide a hydrafacial treatment; SkinStylus SteriLock Microsystem, a microneedling device used for the treatment of enhancing appearance of surgical or traumatic hypertrophic scars on the abdomen and facial acne scarring in Fitzpatrick skin types I, II, and III; and Keravive, a treatment for scalp health.